your research is revolutionary but your occasional (& deliberate) attack on modiji & past Hindu freedom fighters will ultimately spoil your hard work….people might consider you another modi hater trying to profess propaganda……..please keep this in time before an average and unbiased reader do not distances away from your precious research

many thanks for sharing the info on Buddhist designs…now i feel proud to be a hindu

]]>
By: Pranav Prakash http://www.cabaltimes.com/2016/12/11/rupee_goes_awol/comment-page-1/#comment-181194
Fri, 01 Jun 2018 19:49:14 +0000http://www.cabaltimes.com/?p=7086#comment-181194The kind of comtent you won’t easily find on the internet
]]>
By: Sajan Re http://www.cabaltimes.com/2016/12/11/rupee_goes_awol/comment-page-1/#comment-180555
Sat, 10 Feb 2018 22:04:08 +0000http://www.cabaltimes.com/?p=7086#comment-180555Somebody drank too much, started imagining things, got paranoid, and wrote this nonsense
]]>
By: mcintyre decom http://www.cabaltimes.com/2016/12/11/rupee_goes_awol/comment-page-1/#comment-179167
Mon, 04 Sep 2017 03:29:35 +0000http://www.cabaltimes.com/?p=7086#comment-179167modi looted $15 billion worth of new notes -that is why the secrecy. he is a criminal mid.
]]>
By: Sarah Gupta http://www.cabaltimes.com/2016/12/11/rupee_goes_awol/comment-page-1/#comment-176430
Mon, 12 Dec 2016 11:49:57 +0000http://www.cabaltimes.com/?p=7086#comment-176430Just a few casual comments. Not saying all this is good or bad. Time will tell what happens. Certainly it won’t be perfect. Modi has said since the beginning of his administration that he wanted India to go cashless. I guess some people were not listening. He started by getting almost all citizens biometric ID-ed. Amazing feat but almost all Indians have an ID now. Most don’t have a birth certificate but they have the biometric card. This enabled everyone to get bank accounts. In rural areas they can open an account through the post office. Right now they are earning roughly 8% which is good for the poor. Now they can finally earn interest on their money. When one opens an account they get a PAN number which is used for major purchases. All gold, property, cars, etc…will be tracked through the PAN number. Small amounts of gold and money are not taxed. This means the rich will pay taxes while they consume the bulk of these luxury items. To be honest most rich in India don’t keep large sums of cash around and if they do it is a small loss compared to their other assets. In addition to cards there is a booming business in pre-paid cards, like Paytm, which is accepted almost anywhere these days. Even the Indian tea man will take your 7 rupees through his Paytm account. This is a card that Indians can load with any amount which is not exposing bank details to anyone. Indians load up small amounts as needed which further protects anyone draining the card fraudulently. Cells phones are very common in India and apps are popular. Even grandma is on the cell.

Black money is used for property purchases, 60% is under the table, which has inflated the prices. Now prices are coming down which is bad for individuals, but good for the common man, if it continues, since they will be able to afford to buy property. The real estate sector will see a boom as more clients are able to buy. Black money is used for child slavery and human trafficking so hopefully this will break the back on that industry. That is a sad, but rea,l story here in India.

Answers to a few questions I saw. I am no expert and others can add their two cents on this.

Did the Indian Government really assume that “terrorists” too, would line up in front of banks with bags of cash to exchange their banknotes and end up being busted?

Several Indians are washing money through their accounts for a %. I am hearing it is 20%. Poor people are lining up to make money for who-ever they can as this is a good side business.

Do “terrorists” have bank accounts in Indian Kashmir? (Sorry couldn’t resist).

Yes, home grown terrorist do have bank accounts they can wash money through. Again many Indians will wash money through their bank accounts for 20% fee. Will be interesting to see if they get caught down the road.

Most Indians are illiterate. Going cashless makes them even more vulnerable to fraud.

While Indians may be illiterate they are hardly naive or stupid. I actually think my America friends are more naive. This is why Westerners get scammed. Indians are much more cynical and suspicious in my opinion. Corruption and fraud is built into every part of life here and they are bit callous to others. Maybe too callous I think.

I heard of several raids on homes and business on the news here in India. Certainly this might become normal but the majority of Indians will applaud this if it is done on the “rich”. The demonetization is seen as making all Indians equal. Bribes are often given to politicians, police, getting into schools and even to get jobs in India, so those without money are shut out of this system of favors. Most resent it. Kids that come from money get into schools because the parents can gift the administration to get him in. It is not based on brains but who has money. So working hard has no merit in this word. It doesn’t elevate anyone. This economy is termed a “theft economy”. Stealing is common and about the only way an underdog can get ahead. This is a mindset and heart issue. Will take a long time to get rid of the notion in my opinion. Black money seems to be a byproduct of this. The rewards for screwing others needs to be taken away but not holding my breath. Most Indians think it is just being clever and there isn’t any moral, or ethical, value attached to it.